Multiple questions about Joint demat account

I know online join account not possible but How to open joint demat account if you don’t have zerodha office in your city?

Can anyone share a filled dummy form of joint account?

What documets of each member required to open joint Demat account?

Will the income tax be counted for both account holders?

If one of them is already having single user account on Zeodha or any other platform, will it have to be closed before opening new joint demant account with zerodha, if yes then how to close previous single owner account of zerodha?

@lindo Can you.

You will have to download forms, fill, sign and send them to us offline, to the head office at Bangalore: Zerodha, #153/154,
4th Cross, J.P Nagar 4th Phase,
Opp. Clarence Public School,
Bengaluru - 560078

There is no dummy form, The forms are the same as the one available here
If this has to be a joint account with 2 holders(1 primary and 1 secondary holder) then take an additional set of pages numbered 3 and 4. This additional set will have the KYC details of the second holder. The application form will have details and signatures( F series) of first holder only till page numbered 11, Page 12 onwards is the application of the demat account opening wherein you will fill details of both the holders. Signatures on this part will have to be made by first holde rin the F series and the second holder in the S series of signature boxes.

For the first holder: Photo to be pasted on the application, PAN copy self-attested, Address proof copy self-attested. Bank account proof (could be single or joint, but should have the first holder in the demat as one of the holders)

For the second holder: Photo to be pasted on page 3 (KYC Page-the extra copy that was printed) PAN copy self-attested and Address proof copy self-attested.

This is answered here:

If person A has an existing single account in Zerodha already and you want to open the account with A as a single holder and B as second holder, You will need to open only a new joint demat account which will be linked to the same existing trading account. If it is B who has the single account and you want the new joint account to be in the style of A-1st holder B second holder then you can stick to the documentation above.

All this may sound complicated, best to talk to one of our salespeople on 080-47192020.

IMHO a joint demat is useful only if you are looking to dematerialize existing physical shares certificates which you may have if otherwise, an account nomination is the best thing to do.

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@lindo
in continuation of the above, another question;
where can i find the name of nominee in kite or console?

Hi,

This is currently not displayed on Kite/Console. there will be an option to download the CMR (Client Master Report) copy from console shortly. This copy will show you the details of the nomination in your account.

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I had read somewhere that if there is no will declared by account holder, nominee won’t get the ownership easily in case account holder dies. But if nominee is a shared holder, will have the legal right to own the account and shares in it.

Hi Jitendra,

This article covers this. The official documentation from CDSL is here.

This data is on the Zerodha support page too.

In which case there will be easy for non-tech savvy person to claim the shares if account holder dies? As a nominee or as a joint account holder?

Hi Jitendra, the procedure for transmission of shares in both cases is similar and we have explained the same in this article.

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Can i have joint demat account. And open trading account in the name of 2nd holder ?

No, The trading account will be opened in the name of 1st holder of a joint Demat account

Please check on this link for more info

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Hi Lindo - I am looking to do exactly as you mentioned above. My wife (A, in this case) has an individual account with Zerodha. We are now looking to open a joint demat account - and my wife (A) will be the first holder. However, when I called on the number you mentioned above to enquire about account opening charges, the person from Zerodha told me that one person cannot have an individual and a joint account in the manner we want and you have set out above. Is this your understanding as well? We were hoping to get some advice so that we can get the paper work done soon - thanks in advance. If not, would be grateful if you could let us know how we should proceed.

The nominee cannot be the existing Joint holder.
Read this support article for more details